Luminent Mortgage Capital Inc., San Francisco, has priced a public offering of 12 million shares of common stock at $14 per share.The company was formed in April 2003 to invest primarily in agency and other highly rated single-family mortgage-backed securities, Luminent said. It is externally managed and advised by Seneca Capital Management LLC and organized as a real estate investment trust. Friedman, Billings, Ramsey & Co. is the managing underwriter of the offering, and the co-managers are Credit Suisse First Boston LLC, JMP Securities LLC, and Flagstone Securities LLC. The REIT can be found online at http://www.luminentcapital.com.
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